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NOTE PAYABLE
9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
NOTE PAYABLE

NOTE E – NOTES PAYABLE

 

On February 3, 2017, the Company received an advance of $150,000 from a third party investor pursuant to a $165,000 discounted promissory note. The company shall pay interest to the noteholder on the principal face amount of $165,000 at a rate of 2.5% per month in the event the note is not repaid on or before May 31, 2017. As additional consideration for the advance, the Company issued the third party 50,000 shares of the Company’s common stock. As of September 30, 2017, this notes had been repaid in full. See Note F.

 

On May 15, 2017, the Company received an advance of $35,000 from two third-party investors pursuant to two $37,000 discounted promissory notes. The Company shall pay interest to the noteholder on the principal face amount of $37,000 at a rate of 2.5% per month in the event the note is not repaid on or before May 14, 2018. As additional consideration for the advance, the Company issued the third parties 10,000 shares each of the Company’s common stock. As of September 30, 2017, both notes have been repaid in full. See Note F.